This undated photo shows Charles Li, chief executive officer of Hong Kong Exchanges and Clearing Ltd. (PHOTO / BLOOMBERG)

Hong Kong stock exchange’s boss called for confidence that the city will maintain its “undisputed” role as Asia’s financial nerve even as it battles the fallout from the coronavirus outbreak and social unrest.

“I don’t see anything on the horizon that’s going to fundamentally change that,” Chief Executive Officer Charles Li said in a telephone interview on Wednesday. “But it’s required of all of us to maintain confidence, to maintain our belief this great city is going to become even greater once we are able to get over on the other side of the current public health challenges and other challenges.”

I don’t see anything on the horizon that’s going to fundamentally change that.

Charles Li, Chief executive officer, Hong Kong Exchanges & Clearing Ltd

Hong Kong Exchanges & Clearing Ltd. faces what could be an even more turbulent year than 2019, when social unrest dragged down trading and brought revenue growth to a near standstill. At the same time, the bourse is now set to welcome a slew of mainland corporate giants after years of lobbying from Li and growing political tension between the US and China.

ALSO READ: HKEx faces tough year with deals fading, stock links in flux

HKEX shares have retraced losses after on Friday posting their biggest drop in a year.

Li said he was not “looking into any specific political initiatives” since “they come, they go.”

“We have no control over them,” he said. “We just have the commercial initiatives that go into the heart of enhancing Hong Kong’s global competitiveness. And that remains unchanged.”

READ MORE: HK justice chief: Draft legislation enshrined in law

Authorities, including Chief Executive Carrie Lam Cheng Yuet-ngor, have this week sought to reassure investors that a proposed national security legislation, currently being debated in the National People's Congress wouldn’t alter the city’s freedoms and threaten its status as a financial hub. 

The Hong Kong Monetary Authority issued a statement late Tuesday, saying the security law wouldn’t impede the free flow of capital. Chief Executive of the HKMA Eddie Yue said in an online article that the nattional security legislation for Hong Kong will not bring any changes to the fundamentals of the city's monetary and financial system.

The free flow of capital and free convertibility of the Hong Kong dollar will continue to be safeguarded by Article 112 of the Basic Law, Yue said.

Li Ka-shing weighs in 

Also on Wednesday, Hong Kong tycoon Li Ka-shing threw his weight behind the proposed national security legislation, believing the legislation will help ensure stability of the city's long-term development. 

Every country has the responsibility and right to protect its national security. There is really no need to read too much into the national security legislation for Hong Kong

Li Ka-shing, HK tycoon

"Every country has the responsibility and right to protect its national security," the 91-year-old billionaire said in a text message sent by his representatives. "There is really no need to read too much into the national security legislation for Hong Kong. 

"Its introduction is expected to have a positive effect to ensure Hong Kong’s stability for long-term developmentand ease the central government’s concerns about Hong Kong. 

"What’s more, the Hong Kong Special Administrative Region government must bear the responsibility to strengthen Hong Kong people’s confidence in 'one country, two systems' and gain the trust of the international community." 

Victor Li, the 55-year-old elder son of Li, also issued a statement hoping that the proposed legislation would help Hong Kong bounce back from months of social unrest.

HKEX on Wednesday revealed a licensing agreement with MSCI Inc to offer 37 futures and options contracts based on MSCI equity indexes in Asia and emerging markets.

That would be crucial for Charles Li’s vision to make the exchange a gateway to China for foreign investors. 

HKEX on Wednesday revealed a licensing agreement with MSCI Inc. to offer 37 futures and options contracts based on MSCI equity indexes in Asia and emerging markets

The CEO, who announced he’s stepping down in October next year, has pushed through a number of changes to lure more of mainland's corporate giants to list in the city, away from New York.

Reforms over the past years have allowed the exchange to attract tech behemoth Alibaba Holdings Inc to do a US$13 billion dual listing last year. Companies such as JD.com Inc and NetEase Inc are planning to follow suit next month even amid rising tension.

The exchange last week received a string of good news. The US Senate unveiled a bill that could bar Chinese listings, while Nasdaq Inc moved to clamp down on such listings after an accounting scandal erupted at Chinese coffee chain Luckin Coffee Inc, which is listed in New York. Optimism was also stoked by changes to the city’s benchmark Hang Seng index to include mainland's corporate giants.

The agreement with MSCI is “absolutely a vote of confidence” in Hong Kong, Charles Li said.

With Xinhua inputs